Gas Processing & LNG is Produced by Gulf Publishing Holdings LLC



Papua New Guinea LNG mid-term deals to be finalized in first half of 2018

Papua New Guinea's (PNG) liquefied natural gas (LNG) project aims to finalize supply agreements with shortlisted companies for up to 1.3 million tonnes per year of LNG in the first half of 2018, project partner Oil Search said.

Higher-than-expected production at the site - operated by Exxon Mobil - means excess output could be sold via mid-term deals at a time of rising spot prices and firming demand in Asia. 6.6 million tonnes of PNG LNG's annual output is already sold under long-term contracts to Japanese trading giant JERA, Osaka Gas, China's Sinopec and Taiwan's CPC.

The new supply deals will run for up to five years, Oil Search said in a conference presentation last week. Three new 2.7 mtpa production units, or trains, are to be built in Papua New Guinea. Two of the trains will be underpinned by gas from the Elk-Antelope fields, run by Total, and one underpinned by existing fields and the new P'nyang field, run by Exxon.

(Reporting by Oleg Vukmanovic; Editing by Mark Potter)


Copyright © 2018. All market data is provided by Barchart Solutions. Futures: at least a 10 minute delay. Information is provided 'as is' and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.

                                  CMEGroup                                     Icelogo

FEATURED COLUMNS

Editorial Comment
-Adrienne Blume
As discussed in the HPI Market Data 2019 report, published in November by Gas Processing & LNG’s sister publication, Hydrocarbon Processing, rising propane and ethane supplies in the US have been enabled by greater production of shale gas.
Industry Trends: Norway targets global LNG market
-Eugene Gerden
Norway aims to become a leading player in the global LNG market during the next several years through the establishment of new, large-scale LNG terminals.
Regional Focus: Challenges of scaling up Africa’s LNG production
-Shem Oirere
Several gas projects are underway in Africa, but they continue to be constrained by inadequate infrastructure, slow finance mobilization, lack of security and uncertainty over hydrocarbon regulations that are casting doubt on the outcome of the continent’s drive to meet its anticipated 128% gas demand increase by 2040.


GasPro 2.0: A Webcast Symposium

Register Now

The global LNG industry is becoming increasingly interconnected as grassroots export projects get off the ground. Another technology route for processing gas into fuels—GTL—is attracting renewed attention due to improving economics. Small-scale solutions for both LNG and GTL are at the forefront of new technological developments, while major projects using more conventional technologies continue to start up around the world.

During this webcast, we will focus on LNG, GTL, gas processing technology developments and deployments, operations, small-scale solutions, transportation, trading, distribution, safety, regulatory affairs, business analysis and more.

October 25, 2018 08:30 AM CDT

Register Now

 

Please read our Term and Conditions, Cookies Policy, and Privacy Policy before using the site. All material subject to strictly enforced copyright laws.
© 2019 Gulf Publishing Holdings LLC.